PrimeEnergy Resources (NASDAQ:PNRG) Shares Gap Up to $44.99

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PrimeEnergy Resources Co. (NASDAQ:PNRG)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $44.99, but opened at $50.00. PrimeEnergy Resources shares last traded at $50.05, with a volume of 2 shares trading hands.

Separately, TheStreet raised PrimeEnergy Resources from a “d+” rating to a “c” rating in a research note on Wednesday, December 9th.

The company’s 50 day moving average price is $41.31 and its 200-day moving average price is $56.67. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.01.

PrimeEnergy Resources (NASDAQ:PNRG) last posted its quarterly earnings results on Wednesday, November 25th. The oil and natural gas company reported $2.36 earnings per share (EPS) for the quarter. The company had revenue of $11.79 million for the quarter. PrimeEnergy Resources had a negative return on equity of 1.58% and a negative net margin of 2.59%.

In other news, Director Gaines Wehrle sold 585 shares of the company’s stock in a transaction on Monday, November 30th. The stock was sold at an average price of $63.48, for a total transaction of $37,135.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 4,868 shares of company stock worth $200,799 over the last ninety days. 58.55% of the stock is owned by insiders.

Several large investors have recently modified their holdings of PNRG. BlackRock Inc. boosted its stake in PrimeEnergy Resources by 11.0% in the 4th quarter. BlackRock Inc. now owns 24,851 shares of the oil and natural gas company’s stock worth $1,073,000 after purchasing an additional 2,467 shares during the period. Jane Street Group LLC lifted its holdings in shares of PrimeEnergy Resources by 37.0% in the fourth quarter. Jane Street Group LLC now owns 6,821 shares of the oil and natural gas company’s stock valued at $294,000 after purchasing an additional 1,843 shares in the last quarter. Bank of America Corp DE boosted its position in shares of PrimeEnergy Resources by 28.9% in the second quarter. Bank of America Corp DE now owns 2,089 shares of the oil and natural gas company’s stock worth $149,000 after buying an additional 468 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of PrimeEnergy Resources by 217.6% during the fourth quarter. JPMorgan Chase & Co. now owns 1,569 shares of the oil and natural gas company’s stock valued at $67,000 after buying an additional 1,075 shares in the last quarter. Finally, Safir Wealth Advisors LLC acquired a new position in PrimeEnergy Resources during the fourth quarter valued at $54,000. Institutional investors and hedge funds own 7.54% of the company’s stock.

About PrimeEnergy Resources (NASDAQ:PNRG)

PrimeEnergy Resources Corporation, an independent oil and natural gas company, through its subsidiaries, engages in acquiring, developing, and producing of oil and natural gas properties in the United States. It also acquires producing oil and gas properties through joint ventures with industry partners; and provides contract services to third parties, including well-servicing support operations, site-preparation, and construction services for oil and gas drilling and reworking operations.

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